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Relocation Expenses Out Of Control? You Need A Company Relocation Policy

Posted on May 7th, 2021 Read time: 1 minutes

Young business man happy to pack up his office

While we’re all hopeful that the pandemic will soon be behind us, it’s increasingly clear that remote work is here to stay. Research from Willis Towers Watson suggests that employers expect almost 40% of their employees to work remotely by the end of this year, and Robert Half found that more than one-third of professionals would sooner find another job than return to the office full time.

Soon, an unprecedented portion of the workforce will no longer be tied to a physical office location. The relocation industry was already a $25 billion market before the pandemic, with the average company spending more than $16 million per year on typical relocation expenses. As many workers move from major city centers like New York and Los Angeles to less crowded and less expensive parts of the country, the relocation market is likely to explode.

 

Read the full guest-contributed article  in StrategicCFO360.

 

This guest contributed article was written by Peter Limone, Chief Financial Officer of Innovative Employee Solutions.

 

Peter Limone is the Chief Financial Officer of Innovative Employee Solutions (IES), a leading global Employer of Record in more than 150 countries that specializes in payrolling and contractor management services for today’s contingent workforce. Founded in 1974 in San Diego, California, IES has grown into one of the city’s largest women-owned businesses and been named one of its Best Places to Work for 10 years in a row. Peter joined IES in 2011 as the company’s corporate controller and was promoted to CFO the following year.

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